The US energy infrastructure company Sunoco has entered into an agreement to acquire all outstanding shares of the Canadian fuel distributor and retailer Parkland in a cash and equity transaction of approximately US$9.1bn, including assumed debt. With the acquisition, Sunoco expects to form a new publicly-traded limited liability company named SUNCorp, which will be treated as a corporation for tax purposes. The transaction is expected to close in the second half of 2025, once all regulatory approvals have been secured. The acquisition will allow Sunoco to invest in Parkland's refinery of low-carbon fuels, as well as in both existing and new projects across Canada, the Caribbean, and the United States.
Sunoco is an energy infrastructure and fuel distribution master limited partnership operating in the United States, Puerto Rico, Europe, and Mexico. Parkland is an international fuel distributor, marketer, and convenience retailer with operations in 26 countries across the Americas.
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